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  • Decline-in-market Value Request For Assessor Review (prop 8) - Assessor Saccounty

Get Decline-in-market Value Request For Assessor Review (prop 8) - Assessor Saccounty

County of Sacramento Kathleen Kelleher, Assessor Decline-in-Market Value Request for Assessor Review (Prop 8) 3701 Power Inn Rd, Suite 3000 Sacramento, CA 95826-4329 www.assessor.saccounty.net (916).

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How to fill out the Decline-in-Market Value Request For Assessor Review (Prop 8) - Assessor Saccounty online

This guide provides a clear and supportive approach to filling out the Decline-in-Market Value Request for Assessor Review form, commonly referred to as Prop 8, for the Sacramento County Assessor’s Office. Follow these steps to ensure your request is submitted accurately and timeliness.

Follow the steps to complete your request online.

  1. Press the ‘Get Form’ button to access the form and open it in your preferred editing tool.
  2. Begin by entering the owner’s opinion of the market value of the property as of January 1, 2013, in the designated field.
  3. Fill out the contact information section, including your name, daytime telephone number, and email address to facilitate communication.
  4. Provide the property information, including the assessor’s parcel number, mailing address, property address, and city/state/zip for both mailing and property locations.
  5. In the provided space, offer any factual information that supports your opinion of value. You may attach relevant documents such as an appraisal or recent sales data.
  6. If applicable, fill in details about similar properties that sold between October 1, 2012, and March 31, 2013, using the grid format provided for ease of comparison.
  7. If you are submitting information for commercial properties, ensure to attach the necessary financial documents, including income expense statements and a rent roll.
  8. Once all fields are completed, review your inputs for accuracy. Save changes, and use available options to download, print, or share the form for submission.

Take action today by filling out your Decline-in-Market Value Request online.

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If you own a home and occupy it as your principal place of residence, you may apply for a Homeowners' Exemption. This exemption will reduce your annual assessed value by $7,000. Exemption becomes ineligible for the exemption. Homeowners' Exemptions are not automatically transferred between properties.

Under Proposition 8, qualifying properties will be given a temporary reduction in their taxable value which translates into a lower property tax. A reduced or "decline-in-value" assessment (also called "Prop 8") occurs when the current market value of your property is less than the assessed value as of January 1.

In 1978, California voters passed Proposition 8, a constitutional amendment that allows a temporary reduction in assessed value when a property suffers a “Decline-in-Value.” A Decline-in-Value occurs when the current market value of your property is less than the current assessed value as of January 1.

Proposition 8 allows the Assessor to temporarily reduce the assessed value of property if the market value is lower than the factored base year value.

Proposition 8 is codified by section 51(a)(2) of the Revenue and Taxation Code. A decline in value occurs in any year in which the current market value of real property is less than its adjusted base year value as of the lien date, January 1.

A Proposition 8 reduction is a form of assessment relief. It may be applied by the Assessor when a property's assessed value exceeds the current market value. By the end of June all Santa Clara County property owners receive notification of their assessed value.

Proposition 8 – Decline in Market Value This proposition allows the Assessor to temporarily lower assessments when the market value on January 1 is lower than the factored base year value for that year.

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Fill Decline-in-Market Value Request For Assessor Review (Prop 8) - Assessor Saccounty

The current market value must fall below the Prop 13 factored base year value (assessed value) before the Assessor can recognize the decline. If you disagree with the assessed value on your property, you may file for a Prop 8 review, an assessment appeal, or both. A Proposition 8 reduction is a form of assessment relief. View on Westlaw or start a FREE TRIAL today, SA-AS8. Decline-in-Market Value Request for Assessor Review (Prop 8), Legal Forms. The Assessor will review requests for reduction until August 15. If you believe that your property value warrants review due to a decline in market value, you may file an application for Decline-in-Value Review.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232